Open Access

Efficiency of oil-production: the role of institutional factors

Olena Chygryn
Olena Chygryn
, 
Oleksii Lyulyov
Oleksii Lyulyov
, 
Tetyana Pimonenko
Tetyana Pimonenko
 and 
Saad Mlaabdal
Saad Mlaabdal
   | Dec 31, 2020
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Published Online: Dec 31, 2020
Page range: 92 - 104
Received: May 30, 2020
Accepted: Nov 15, 2020
DOI: https://doi.org/10.2478/emj-2020-0030
Keywords
© 2020 Olena Chygryn et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Fig. 1

Results of the correlation analysis into the fluctuation between oil production volumes (for EU countries and the world), greenhouse gas emissions, the use of alternative energy sources, the number of patents for oil production and unemploymentNote: OP — volumes of oil production; GHG — greenhouse gas emissions; RE — the share of alternative energy sources; P — number of patents; UN — unemployment rate; * — statistical significance at the level of 1%
Results of the correlation analysis into the fluctuation between oil production volumes (for EU countries and the world), greenhouse gas emissions, the use of alternative energy sources, the number of patents for oil production and unemploymentNote: OP — volumes of oil production; GHG — greenhouse gas emissions; RE — the share of alternative energy sources; P — number of patents; UN — unemployment rate; * — statistical significance at the level of 1%

Fig. 2

Results of the trend analysis in publications related to oil production and institutional environmentSources: elaborated by the authors based on Scopus.
Results of the trend analysis in publications related to oil production and institutional environmentSources: elaborated by the authors based on Scopus.

Fig. 3

Subject areas in Scopus dealing with the oil industry and institutional environmentSource: elaborated by the authors based on Scopus.
Subject areas in Scopus dealing with the oil industry and institutional environmentSource: elaborated by the authors based on Scopus.

Fig. 4

Results of bibliometric analysis of the structural and functional environment for categories of the oil industry and institutional environmentSource: elaborated by the authors based on Scopus.
Results of bibliometric analysis of the structural and functional environment for categories of the oil industry and institutional environmentSource: elaborated by the authors based on Scopus.

Fig. 5

Dynamics of indicator change: voting rights and accountability in 2000–2018Source: elaborated by the authors based on (Bilan et al., 2019c).
Dynamics of indicator change: voting rights and accountability in 2000–2018Source: elaborated by the authors based on (Bilan et al., 2019c).

Fig. 6

Dynamics the indicator of the quality of the government's regulatory policy in 2000–2018Source: elaborated by the authors based on World Governance Indicators.
Dynamics the indicator of the quality of the government's regulatory policy in 2000–2018Source: elaborated by the authors based on World Governance Indicators.

Fig. 7

Dynamics of the indicator or the control of corruption in 2000–2018Source: elaborated by the authors based on World Governance Indicators.
Dynamics of the indicator or the control of corruption in 2000–2018Source: elaborated by the authors based on World Governance Indicators.

Fig. 8

Public Governance Effectiveness in Ukraine, Russia, Kazakhstan and Uzbekistan in 2016Source: elaborated by the authors base on World Governance Indicators.
Public Governance Effectiveness in Ukraine, Russia, Kazakhstan and Uzbekistan in 2016Source: elaborated by the authors base on World Governance Indicators.

Fig. 9

Efficiency of government in Ukraine, Russia, Kazakhstan and Uzbekistan in 2017Source: elaborated by the authors based on World Governance Indicators.
Efficiency of government in Ukraine, Russia, Kazakhstan and Uzbekistan in 2017Source: elaborated by the authors based on World Governance Indicators.

Fig. 10

Public Governance Effectiveness in Ukraine, Russia, Kazakhstan and Uzbekistan in 2018Source: elaborated by the authors based on World Governance Indicators.
Public Governance Effectiveness in Ukraine, Russia, Kazakhstan and Uzbekistan in 2018Source: elaborated by the authors based on World Governance Indicators.

Fig. 11

Dynamics of indicators for the effectiveness of public governance in Ukraine in 2016–2018 by key componentsSource: elaborated by the authors based on World Governance Indicators.
Dynamics of indicators for the effectiveness of public governance in Ukraine in 2016–2018 by key componentsSource: elaborated by the authors based on World Governance Indicators.

Correlations between variables OP1, OP2, ViA, PS, GE, RL

OP1OP2ViAPSGERL
OP11.00000.4561 (0.0001)−0.1593 (0.5147)0.3484 (0.0000)−0.3762 (0.1125)0.0127 (0.9588)
OP20.4561 (0.0001)1.0000−0.2110 (0.3859)0.3476 (0.0002)−0.4559 (0.0498)−0.3060 (0.2026)
ViA−0.1593 (0.5147)−0.2110 (0.3859)1.0000−0.1464 (0.5497)−0.0138 (0.9552)0.4578 (0.0487)
PS0.3484 (0.0000)0.3476 (0.0002)−0.1464 (0.5497)1.0000−0.644 (0.0029)−0.1187 (0.6285)
GE−0.3762 (0.1125)−0.4559 (0.0498)−0.0138 (0.9552)−0.644 (0.0029)1.00000.3326 (0.1641)
RL0.0127 (0.9588)−0.3060 (0.2026)0.4578 (0.0487)−0.1187 (0.6285)0.3326 (0.1641)1.0000

Results of the study into the impact of the institutional environment on the functioning of the national oil-production industry

Model specification
ΔCorruptionΔOP1ΔOP2ΔViAΔPSΔGEΔRL
Stat. (Prob.)Stat. (Prob.)Stat. (Prob.)Stat.Prob.Stat.Prob.Stat.Prob.Stat.Prob.
Corruption0.12 (0.00)0.11 (0.00)–0.16 (0.00)–0.09 (0.00)–0.040.000.040.00–0.030.3550.030.000.170.00
OP11.47 (0.16)1.34 (0.08)0.521 (0.00)0.687 (0.00)–––0.100.140.080.00–0.060.200.060.15
OP2–0.54 (0.00)–0.52 (0.00)––0.490 (0.00)0.831 (0.00)–0.980.000.340.720.190.37–0.130.46
ViA0.28 (0.00)0.34 (0.0)0.30 (0.41)0.27 (0.44)0.49 (0.03)0.64 (0.52)0.090.012––––––
PS1.25 (0.23)–0.23 (0.06)–0.13 (0.08)–––0.2080.00––––
GE–0.18 (0.00)–0.51 (0.18)–0.42 (0.06)––––0.3080.00––
RL0.48 (0.92)0.49 (0.87)0.32 (0.53)0.28 (0.48)–0.15 (0.63)–0.10 (0.84)––––––0.070.05
AR(2)(0.209)(0.312)(0.311)(0.291)(0.243)(0.218)(0.149)(0.178)(0.269)(0.117)
Sargan's OIR stat.(0.967)(0.341)(0.237)(0.414)(0.220)(0.145)(0.136)(0.180)(0.213)(0.385)
Hansen's OIR stat.(0.782)(0.492)(0.623)(0.625)(0.618)(0.713)(0.487)(1.00)(0.503)(0.578)
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